Foreign exchange
Caruana to end stint as Basel Committee chairman
Jaime Caruana will step down as chairman of the Basel Committee on Banking Supervision in July, when his six-year tenure as head of the Spanish central bank expires. A Bank for International Settlements (BIS official says the Committee plans to discuss…
DTCC developing trade warehouse for credit derivatives
The Depository Trust & Clearing Corporation (DTCC) is developing a central trade information warehouse and support infrastructure in an attempt to standardise how credit derivative trades are processed across the industry.
Scaling op risk management for SMIs: how to avoid boundary disputes
In the fourth of the series, Eric Holmquist looks at managing the crossover between op risk and other risk types to ensure no potential risk events fall between the cracks
BarCap survey shows options e-commerce still lags behind
A Barclays Capital survey of its corporate customers has found that electronic trading of foreign exchange options is lagging behind, as the market attempts to shift trading from voice brokerage to e-commerce systems.
Honesty best for preventing bank crises, report says
Ethics are far more important than economics in preventing bank crises, according to a report published today by Berlin-based corruption watchdog Transparency International.
China allows RMB interest rate swaps
The People’s Bank of China (PBOC) has issued new regulations allowing banks to conduct renminbi-denominated interest rate swap transactions on a trial basis. The move is the latest in a series of measures by the central bank to liberalise the RMB…
The Basel II Race
Accessing operational risk is vital for any bank that wants to reach Basel II compliance.
The capital calculation question
Industry comments on Basel II have concentrated most on corporate credits. But the modelling of retail portfolio risk is a new field, and there is much greater scope for disagreement about how capital should be calculated.
UBS, Diapason to launch first biofuels index
Swiss bank UBS and Swiss commodity firm Diapason Commodities Management Investors are to launch the first commodity-based index for biological fuels.
MiFID support high, despite the costs
In the first of a new series of articles surveys exploring in more detail the inner workings of the op risk and compliance disciplines, Georgina Kenyon examines the results of a recent survey into the controversial MiFID directive
Citigroup adopts Reveleus' Basel II solution
Citigroup is to implement the Reveleus Basel II solution to support the global bank's US and international regulatory requirements under the Basel II Accord.
A case for convergence?
With Basel II regulatory capital becoming increasingly more risk-sensitive, the value of a separate economic capital system must be questioned. Christopher Hall of Risk Advisors considers the differences between economic capital and regulatory capital,…
Business continuity in financial services firms
We were reminded in 2005 that significant business disruptions continue to occur in varying forms and levels of intensity. The London bombings of July 7, the devastation caused by Hurricanes Katrina and Rita in the late summer and the New York City…
Nordea books loss over hedge mistrade
A trader's error last December cost Nordic bank Nordea €20 million, the bank has admitted.
S&P revamps RatingsDirect
Standard & Poor's, the New York-based ratings agency, has introduced an updated RatingsDirect, its research and risk analysis tool that provides real-time online credit ratings for investment professionals.
The long and short of M&A
Cazenove's Tim Russell has been on the wrong end of bidding activity and has missed the resources boom in his UK hedge fund, each theme beguiling many of his peers. Even so, the manager has met his target of achieving 10% returns in his UK Equity…
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